Wednesday, 1 October 2008

With the US financial house of cards close to collapse and the likelihood of the aftershocks dragging exchanges from Tokyo to Paris tumbling after it , is the Bush Bail Out the best hope for salvation? More importantly however what does the general public think should happen? Should Tax Payers worldwide be forced to pay for the excesses of the gorging Humpty Dumpty like Banks or should they be left to their great fall even though it may mean long term hardship for Tax Payers. It is an emotive subject and generates agitated debate from all quarters……But what do you think? Please vote in the Poll on the right and we would love to hear your comments and thoughts.

1 comment:

I'm against the $85,000,000,000.00 bailout of AIG.Instead, I'm in favor of giving $85,000,000,000 to America ina We Deserve It Dividend.To make the math simple, let's assume there are 200,000,000bonafide U.S. Citizens 18+.Our population is about 301,000,000 +/- counting every man, womanand child. So 200,000,000 might be a fair stab at adults 18 and up..So divide 200 million adults 18+ into $85 billon that equals$425,000.00.My plan is to give $425,000 to every person 18+ as aWe Deserve It Dividend.Of course, it would NOT be tax free.So let's assume a tax rate of 30%.Every individual 18+ has to pay $127,500.00 in taxes.That sends $25,500,000,000 right back to Uncle Sam.But it means that every adult 18+ has $297,500.00 in their pocket.A husband and wife has $595,000.00.What would you do with $297,500.00 to $595,000.00 in your family?Pay off your mortgage - housing crisis solved.Repay college loans - what a great boost to new gradsPut away money for college - it'll be thereSave in a bank - create money to loan to entrepreneurs.Buy a new car - create jobsInvest in the market - capital drives growthPay for your parent's medical insurance - health care improvesEnable Deadbeat Dads to come clean - or elseRemember this is for every adult U S Citizen 18+ including thefolks who lost their jobs at Lehman Brothers and every other companythat is cutting back. And of course, for those serving in our ArmedForces.If we're going to re-distribute wealth let's really do it...insteadof trickling out a puny $1000.00 ( 'vote buy' ) economic incentive that is beingproposed by one of our candidates for President.

As for AIG - liquidate it. Sell off its parts.Let American General go back to being American General.Sell off the real estate.Let the private sector bargain hunters cut it up and clean it up.Here's my rationale. We deserve it and AIG doesn't.Sure it's a crazy idea that can 'never work.'But can you imagine the Coast-To-Coast Block Party!How do you spell Economic Boom?I trust my fellow adult Americans to know how to use the $85 BillionWe Deserve It Dividend more than I do the geniuses at AIG or inWashington DC .And remember, The Birk plan only really costs $59.5 Billion because$25.5 Billion is returned instantly in taxes to Uncle Sam.

Ahhh...I feel so much better getting that off my chest.Kindest personal regards,